The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACADIA RLTY TR COM SH BEN INT 004239109 3,208 130,000 SH   SOLE   130,000 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 3,142 38,000 SH   SOLE   38,000 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 7,107 111,300 SH   SOLE   111,300 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 19,447 399,890 SH   SOLE   399,890 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,112 15,000 SH   SOLE   15,000 0 0
ASIAINFO-LINKAGE INC COM 04518A104 243 21,100 SH Call SOLE   21,100 0 0
ASIAINFO-LINKAGE INC COM 04518A104 19,278 1,670,522 SH   SOLE   1,670,522 0 0
BELO CORP COM SER A 080555105 9,349 682,403 SH   SOLE   682,403 0 0
BERRY PETE CO CL A 085789105 19,896 461,292 SH   SOLE   461,292 0 0
CAPLEASE INC COM 140288101 4,271 503,064 SH   SOLE   503,064 0 0
CINEMARK HOLDINGS INC COM 17243V102 4,315 135,946 SH   SOLE   135,946 0 0
COLE REAL ESTATE INVTS INC COM 19329V105 27,827 2,269,734 SH   SOLE   2,269,734 0 0
COOPER TIRE & RUBR CO COM 216831107 41,818 1,357,722 SH   SOLE   1,357,722 0 0
COOPER TIRE & RUBR CO COM 216831107 3,080 100,000 SH Call SOLE   100,000 0 0
COPART INC COM 217204106 1,617 50,860 SH   SOLE   50,860 0 0
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 1,045 30,247 SH   SOLE   30,247 0 0
CROWN CASTLE INTL CORP COM 228227104 28,300 387,510 SH   SOLE   387,510 0 0
D R HORTON INC COM 23331A109 1,496 77,000 SH   SOLE   77,000 0 0
DELL INC COM 24702R101 35,483 2,580,420 SH   SOLE   2,580,420 0 0
DISH NETWORK CORP CL A 25470M109 55,990 1,243,935 SH   SOLE   1,243,935 0 0
DISH NETWORK CORP CL A 25470M109 18,004 400,000 SH Put SOLE   400,000 0 0
DISH NETWORK CORP CL A 25470M109 9,533 211,800 SH Call SOLE   211,800 0 0
ELAN PLC ADR 284131208 3,453 221,600 SH Call SOLE   221,600 0 0
ELAN PLC ADR 284131208 82,520 5,296,563 SH   SOLE   5,296,563 0 0
ENERNOC INC COM 292764107 3,746 250,000 SH Put SOLE   250,000 0 0
ENERNOC INC COM 292764107 17,865 1,192,410 SH   SOLE   1,192,410 0 0
EPR PPTYS CONV PFD 9% SR E 26884U307 2,387 80,921 SH   SOLE   80,921 0 0
EQUINIX INC COM NEW 29444U502 19,467 106,000 SH   SOLE   106,000 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 9,198 269,190 SH   SOLE   269,190 0 0
ESSEX PPTY TR INC COM 297178105 2,512 17,010 SH   SOLE   17,010 0 0
FOREST LABS INC COM 345838106 2,246 52,487 SH   SOLE   52,487 0 0
HCP INC COM 40414L109 3,918 95,689 SH   SOLE   95,689 0 0
HEALTH MGMT ASSOC INC NEW CL A 421933102 19,310 1,508,583 SH   SOLE   1,508,583 0 0
INTERXION HOLDING NV SHS N47279109 4,231 190,231 SH   SOLE   190,231 0 0
LEAP WIRELESS INTL INC COM NEW 521863308 15,843 1,002,715 SH   SOLE   1,002,715 0 0
LEAP WIRELESS INTL INC COM NEW 521863308 3,950 250,000 SH Call SOLE   250,000 0 0
LENDER PROCESSING SVCS INC COM 52602E102 49,004 1,472,926 SH   SOLE   1,472,926 0 0
LENNAR CORP CL B 526057302 4,813 168,000 SH   SOLE   168,000 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 33,328 226,492 SH   SOLE   226,492 0 0
LIFE TECHNOLOGIES CORP COM 53217V109 79,116 1,057,270 SH   SOLE   1,057,270 0 0
M D C HLDGS INC COM 552676108 1,481 49,357 SH   SOLE   49,357 0 0
MARCUS CORP COM 566330106 3,495 240,549 SH   SOLE   240,549 0 0
MARRIOTT INTL INC NEW CL A 571903202 2,061 49,000 SH   SOLE   49,000 0 0
MICROSOFT CORP COM 594918104 30,766 924,449 SH   SOLE   924,449 0 0
MICROSOFT CORP COM 594918104 41,936 1,260,100 SH Call SOLE   1,260,100 0 0
MID-AMER APT CMNTYS INC COM 59522J103 12,892 206,267 SH   SOLE   206,267 0 0
NABORS INDUSTRIES LTD SHS G6359F103 10,439 650,000 SH   SOLE   650,000 0 0
NATIONAL BK GREECE S A ADR PRF SER A 633643507 198 16,200 SH   SOLE   16,200 0 0
NAVISTAR INTL CORP NEW COM 63934E108 12,133 332,600 SH Put SOLE   332,600 0 0
NVR INC COM 62944T105 4,136 4,500 SH   SOLE   4,500 0 0
NYSE EURONEXT COM 629491101 28,451 677,716 SH   SOLE   677,716 0 0
ONYX PHARMACEUTICALS INC COM 683399109 6,235 50,000 SH Put SOLE   50,000 0 0
ONYX PHARMACEUTICALS INC COM 683399109 62,350 500,000 SH Call SOLE   500,000 0 0
ONYX PHARMACEUTICALS INC COM 683399109 68,585 550,000 SH   SOLE   550,000 0 0
REALOGY HLDGS CORP COM 75605Y106 37,236 865,540 SH   SOLE   865,540 0 0
ROYAL BK SCOTLAND GROUP PLC ADR PREF SER N 780097770 1,457 69,845 SH   SOLE   69,845 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF M 780097796 1,448 69,033 SH   SOLE   69,033 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR L RP PF 780097788 7,870 396,854 SH   SOLE   396,854 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 117 5,443 SH   SOLE   5,443 0 0
RUE21 INC COM 781295100 12,073 299,353 SH   SOLE   299,353 0 0
RUE21 INC COM 781295100 2,017 50,000 SH Call SOLE   50,000 0 0
SAKS INC COM 79377W108 8,363 524,642 SH   SOLE   524,642 0 0
SAVIENT PHARMACEUTICALS INC NOTE 4.750% 2/0 80517QAA8 869 5,000,000 PRN   SOLE   5,000,000 0 0
SBA COMMUNICATIONS CORP COM 78388J106 43,697 543,087 SH   SOLE   543,087 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 1,110 43,009 SH   SOLE   43,009 0 0
SONY CORP ADR NEW 835699307 4,106 190,788 SH   SOLE   190,788 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 52,302 311,300 SH Put SOLE   311,300 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 3,655 55,000 SH   SOLE   55,000 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 1,502 46,000 SH   SOLE   46,000 0 0
TAUBMAN CTRS INC COM 876664103 5,250 78,000 SH   SOLE   78,000 0 0
TIME WARNER CABLE INC COM 88732J207 35,176 315,200 SH Call SOLE   315,200 0 0
TIMKEN CO COM 887389104 27,053 447,900 SH   SOLE   447,900 0 0
TW TELECOM INC COM 87311L104 19,057 638,100 SH   SOLE   638,100 0 0
VENTAS INC COM 92276F100 3,961 64,408 SH   SOLE   64,408 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 23,662 506,900 SH Put SOLE   506,900 0 0
VISTEON CORP COM NEW 92839U206 26,534 350,789 SH   SOLE   350,789 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 33,009 938,300 SH Call SOLE   928,300 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 52,973 1,505,776 SH   SOLE   1,505,776 0 0
WMS INDS INC COM 929297109 26,000 1,001,933 SH   SOLE   1,001,933 0 0